RHB Investment Bank Bhd (RHB Research) has highlighted bullish signals for Resintech and UUE, indicating potential upward trajectories based on recent market activity.
Resintech is attempting a bullish breakout, testing the immediate resistance at RM0.70 with a strong white candlestick supported by significant trading volume. RHB Research noted that surpassing this resistance could attract fresh buying interest, potentially driving the stock towards RM0.735, followed by RM0.77. However, a fall below the RM0.66 support level could signal a continuation of its correction phase.
Similarly, UUE has demonstrated a bullish breakout, closing above the RM0.83 resistance with high trading volume. This, according to RHB Research, reflects robust bullish momentum. Riding this momentum, the stock is expected to target RM0.88 and subsequently RM0.93. On the downside, slipping below the RM0.78 support level may initiate a correction phase.
RHB Research's technical analysis suggests both counters are positioned to benefit from strong bullish trends, provided key resistance levels are breached.
